LIBOR — or the London interbank offered rate — is the
daily measure meant to show the rate at which banks will lend to
each other and is used to set the price of hundreds of trillions
of dollars worth of financial products.

Curtler was employed by Deutsche between 1993 and December 2012.
The FCA said that when Curtler traded a variety of
financial instruments that were tied to USD LIBOR between 2000
and 2012, he "received requests from Deutsche traders to
alter his USD LIBOR submissions."

In other words, he was asked to manipulate the numbers in
order to directly benefit traders and himself.

The FCA confirmed this in the statement and said
"these requests were made to benefit the trading positions
of Deutsche and the individual traders. Mr Curtler made
alterations to the USD LIBOR submissions consistent with these
requests. Mr Curtler also solicited requests from traders
and changed his USD LIBOR submissions accordingly."

The former ICAP brokers Colin Goodman, and Danny Wilkinson,
ex-brokers from RP Martin Terry Farr and James Gilmour and Noel
Cryan of Tullett Prebon all faced the juryin
Southwark Crown Court in London.

The trial of the brokers lasted 15 weeks, but the jury was out
for less than a day before revealing the verdicts.